Entrepreneurship In The 21st Century

1993 Words8 Pages
Entrepreneurship is the process of generating new ideas and introducing it into the market in the form of a new product, service or a process. It gives rise to entrepreneurs who are dynamic and flexible and introduce a new business from the purpose of being successful. For example, Sachin and Binny Bansal, the proud owners of one of the biggest e-commerce giant “Flipkart” are big entrepreneurs who have become so successful with their abilities of self-confidence and risk taking with proper planning and execution. When an entrepreneur has a new idea and his/her intention is to bring it into the market with a new business venture, the key for success is the good idea and a very good plan to execute that idea. Not only this, an entrepreneur also needs a proper business plan for more clarity about what is to be done when. For doing all this, an entrepreneur requires various skills and intentions which are different from others who do not have any intentions of entrepreneurship. The various skills and characteristics of an entrepreneur are the drivers of the decisions taken by the entrepreneurs. Entrepreneurs are dynamic (i.e. adjustable to changes) and flexible in nature. They are risk-taking that is willing to face the uncertainties’…show more content…
There are various entrepreneurial ventures which are coming up so well and are leaving behind already settled organizations. Entrepreneurship has become the symbol of business tenacity and achievement and their sense of opportunity, their drive to innovate and their capacity for accomplishment have become the standard by which free enterprise is measure now. These characteristics of an entrepreneur come from the self-efficacy and self-confidence which they have in themselves. These are becoming the factors of changing the way a business is done and to handle the dynamic nature of the business
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